The Administrative Office of the U.S. Courts this week released a report that shows an increase of 9 percent in bankruptcy filings between April and June this year as compared to last. There were 422,061 bankruptcy filings this year, from 388,148 in the prior...
Personal Bankruptcy
Alabama unemployment rate drops
Alabama’s unemployment rate dropped to 9.2 percent in August, from 9.7 percent in July. This is the first time that Alabama’s rate has fallen below the national average — 9.6 percent — in more than a year.The Birmingham-Hoover metro area’s rate fell by a smaller...
Feds release latest Beige Book reports
The U.S. Federal Reserve’s latest Beige Book survey, released Wednesday, suggests that the economies of most states have expanded “modestly” in the past six weeks. The information in the Beige Book is anecdotal rather than statistical, and is collected from a sample...
Nationwide bankruptcy filings reach highest in years
According to government data released last Wednesday, bankruptcy filings between April and June of 2010 reached the highest levels seen in the last five years. The number of filings represents an increase of 11 percent from the same time period in 2009.422,061 filings...
Alabama’s bankruptcy rate fifth highest in the nation
According to the American Bankruptcy Institute, Alabama’s bankruptcy rate is the fifth highest in the nation.A researcher said that Alabama has 7.42 bankruptcy filing per 1,000 residents. The national average is at 5.05 and Nevada had the highest rate of all the 50...
Bankruptcy Filing Rates for Consumers Reach High Point
According to Emmeline Zhao of The Wall Street Journal, “Consumer bankruptcy filings reached their highest point since 2005 in the first half of this year.” In the first sixth months of 2010, there was a 14 percent increase in filings compared to the same time period...
Credit card delinquency decreases nationwide
A recent TransUnion report shows that the number of people who were late in making their credit card payments in the first quarter this year has decreased as compared to the previous quarter.Credit card delinquency is highest in Nevada, at 1.79 percent, with Florida...
Foreclosure numbers increase nationwide
A RealtyTrac Inc. report has revealed a rising trend in home foreclosure filings. One in 465 homes in the Houston, TX, area was foreclosed on in March, a number that is 53 percent higher than last year’s March filings. The number of homes that recieved foreclosure...
General contractor’s bankruptcy story continues
General contractor Brian M. Marshall, founder of companies including Fireline Restoration Inc., Initech Restoration, Marshall Investments LLC, Marshall Aviation LLC, and numerous others, has requested that courts dismiss the latest of his bankruptcies or convert them...
Surge in Consumer Bankruptcy Filings
Despite the recent economic upturn, consumer bankruptcy filings have not slowed. In February, bankruptcy filings were up 14% compared to the previous year. The number of bankruptcy filings in February increased by a total of 9% from January’s, indicating a...